Want to be in the loop?
subscribe to
our notification
Business News
HO CHI MINH CITY SEEKS INVESTMENT FOR SEVEN MAJOR PROJECTS
HCM City is seeking foreign investment over the next five years for seven major projects, including four metro lines.
The projects include the second phase of the Metro Line No. 2, which connects Ben Thanh market with Thu Duc district’s Thu Thiem ward and Tham Luong to Tay Ninh bus station in Cu Chi district.
The second construction phase will be 9.1 kilometres in length and cost around 1.4 billion USD. It will help connect the city’s northwestern regions to its centre, as well as connect the Thu Thiem railway line to the future Long Thanh Airport in Dong Nai province.
The second project, Metro Line No. 3A (Ben Thanh – Tan Kien), is 19.5 kilometres long and costs 1.8 billion USD. It will connect to metro lines at the upcoming Ben Thanh Station in District 1 to transport travelers from the city centre to southwest provinces.
The third is Metro Line No.4 (Thanh Xuan – Hiep Phuoc Industrial Park), which is 36.2 kilometres long and costs over 4.5 billion USD. It will run across the city’s urban areas and Ben Thanh.
The last line is the first phase of Metro Line No. 5 (Bay Hien intersection – Sai Gon Bridge), which is nearly 9 kilometres and will cost over 1.7 billion USD. This line was among the metro lines prioritised for investment in 2012 – 2015 and 2016 – 2020, but was unsuccessful in attracting investment.
For this metro line, the city wants to work with governmental organisations with official development assistance funds, large corporations, and traffic infrastructure investors that are financially and technologically capable.
Three other projects include Thu Thiem financial centre, a centre for conferences, exhibitions, hotel and commercial services, and a Rach Chiec Sport Complex, all of which are to be built in Thu Duc district.
The project proposal is part of a report on national projects to call for FDI, which the city People’s Committee has recently submitted to the Ministry of Planning and Investment.
The city has been facing challenges finding investment in such traffic projects because investors do not see the benefits of investing in the projects or are hesitant to invest because they are all done on a massive scale and require a vast amount of capital.
Regulations on private – public partnership investment in traffic and railway projects still contain some weaknesses, according to the city.
Source: VIR
Related News
![Card image cap](/uploads/Logo/Cathay%20%281%29.jpg)
ONE-TIME OFFER: COMPLEMENTARY CATHAY PACIFIC LOUNGE PASS
Begin your trip on the right note in Cathay Pacific’s first-ever ferry lounge, located at Shenzhen’s Shekou Cruise home port. Situated at the end of the pier, the ferry lounge offers a breathtaking 270-degree view of the sea. You can immerse yourself in sheer luxury and revel in the panoramic beauty. Catch a glimpse of Hong Kong in the distance.
![Card image cap](/uploads/news/Industrial%20Zone.jpg)
VIỆT NAM TARGETS FULL MOBILE BROADBAND COVERAGE ON HIGHWAYS, INDUSTRIAL ZONES BY 2025
By 2025, Việt Nam aims to achieve one hundred per cent mobile broadband coverage on all national highways, expressways and railways under a plan to enhance the quality of Việt Nam’s mobile telecommunications network by 2025, which has been approved by the Ministry of Information and Communications (MIC).
![Card image cap](/uploads/news/Investment6.jpg)
VIETNAM ONE OF FASTEST-GROWING E-COMMERCE MARKETS IN SOUTHEAST ASIA
The report released on July 16 highlighted that the total GMV of Southeast Asia’s eight leading e-commerce platforms rose to $114.6 billion in 2023, up 15 per cent from 2022. The key drivers for the region's e-commerce GMV expansion in 2023 are Vietnam and Thailand, growing 52.9 per cent and 34.1 per cent on-year, respectively.
![Card image cap](/uploads/news/Security.jpg)
2025 PIVOTAL FOR STOCK MARKET UPGRADE EFFORT
The Ministry of Finance (MoF) is expected to soon publish the entire content of the draft circular amending and supplementing four circulars on transactions, registration, depository, and clearing, as well as operations of securities companies and information disclosure. This move, along with feedback and explanations, aims to meet the criteria for upgrading Vietnam’s stock market.
![Card image cap](/uploads/news/bn-01.jpg)
VIETNAM INTENSIFIES E-COMMERCE TAX SCRUTINY
The department plans to offer guidance for and hold direct dialogues with e-commerce taxpayers to ensure compliance. Efforts will also include updating the e-commerce database, conducting risk analysis, and leveraging artificial intelligence (AI) to manage data and issue alerts.
![Card image cap](/uploads/news/eco2.jpg)
FOOTWEAR EXPORTS SEEN REACHING US$27 BILLION THIS YEAR
This optimistic forecast reflects the industry’s efforts to expand and diversify its markets. Lefaso indicated that Vietnam’s footwear sector will concentrate on traditional markets like the U.S. and the European Union, alongside markets with free trade agreements to maximize opportunities.